Examlex
Which of the following statements is the correct description of chemistry?
Owner's Equity
The total value of a business owned by its owners, calculated as the business's total assets minus its total liabilities.
Business Ownership
Refers to the control over a business enterprise, determining the management and profit allocation.
Sole Proprietorship
A business structure where a single individual owns, manages, and is personally responsible for all aspects of the business.
Corporation
A legal entity that is separate from its owners, offering limited liability protection to its shareholders, and having the ability to raise funds by selling stock.
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